Transport Ticketing Market, By Product (Ticket Machine, E-Ticket, E-Kiosk, E-Toll), By System (Smart Card, Smart Phone), By Application (Railways & Metros, Buses, Personal Vehicles) - Forecast 2023
Transport ticketing market is largely dominated by key players such as Gemalto NV (Netherlands), HID (U.S.), Accenture Plc (Ireland), NXP Semiconductors (U.S.), Cubic Corp. (U.S.), CPI Card Group Inc. (U.S.), AEP Ticketing Solutions (Signa), Xerox Corp. (U.S.), Infineon Technologies AG (Germany), Rambus Incorporated (U.S.), among others.
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Transport ticketing system is the upgraded technology which extends chip solutions with respect to open standards. The transport ticketing market is consistently approaching a market worth of USD 11 bn by the end of 2023 owing to the market development at a CAGR of 10% throughout the estimation period ranging from 2018 to 2023. Smart transport ticketing system comprises entitlement to travel, where ticket is preserved electronically on a microchip rather than fetching a printed version of the paper ticket. In most smart ticketing systems, the microchip on which ticket details are preserved is entrenched in a smartcard. Transport ticketing service that provides smart ticketing option, facilitates passengers to check top-up price, load and purchase tickets and present the contents of their wallet. These can be retrieved even if a smartphone is out of reach or offline. Such attributes related to transport ticketing system paves the way for unified travel within and between regions, cities, and countries, availing different modes of transport. Transport ticketing market is driven by the growing requirement to access the smart transit system. This has led the transport ticketing market to an expansion in demand for smart ticketing. With the provision of replacing paper tickets, the transport ticketing market has also opened up avenues for tourism and transport sector to grow extensively. Other key factors propelling the growth of transport ticketing market is the affordable and easy access to smart transit systems due to rapid adoption of smart technologies and effective application of smart ticketing system. Increasing frequencies of theft and revenue loss has led the manufacturers to assimilate advanced attributes such as water resistance, security authentication, and smart locking technology. These key features in transport ticketing system has driven the global transport ticketing market to attain higher valuation in the upcoming years. The progressive features of smart transport ticketing system allow long life expectancy in comparison to a typical paper ticket. Furthermore, the prevailing manufacturers of transport ticketing system are increasingly incorporating intelligent technology in smart ticketing systems to propel their customer base with offering attributes such as ultra-touch fingerprint sensors and fingerprint recognition algorithm which will consistently drive the transport ticketing market to develop significantly as a prominent share in the years to come. On the other hand, growth in the number of partnerships and collaborations among the market players is likely to influence the expansion of the worldwide transport ticketing market positively.
Based on the analysis of Market Research Future’s reports, the Transport Ticketing Market has been segmented based on system, application, and product. The product segment is further sub segmented into e-ticket, e-toll, request tracker, e-kiosk, parking system, and others. Of these, the e-kiosk segment is predicted to develop at the largest CAGR over the forecast period as it aids in curbing the manual operations and assists in taking an efficient form during the peak hours of transportation. Within the product segment, ticket machine is the primary form of smart transport ticketing, which assists in managing and maintaining flow of passengers throughout peak hours. Therefore, it is anticipated to represent the largest market share over the estimation period.
North America has represented a dominant role in the worldwide transportation ticketing market, whereas APAC is expected to develop rapidly throughout the forecast period by 2023 attributing to the technical progressions and surging applications of mobiles devices in these regions.
LIST OF TABLES
TABLE 1 TRANSPORT TICKETING MARKET, BY PRODUCT
TABLE 2 TRANSPORT TICKETING MARKET, BY SYSTEM
TABLE 3 TRANSPORT TICKETING MARKET, BY APPLICATION
TABLE 4 TRANSPORT TICKETING MARKET, BY REGION
TABLE 5 NORTH AMERICA TRANSPORT TICKETING MARKET, BY PRODUCT
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LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 TRANSPORT TICKETING MARKET: BY PRODUCT (%)
FIGURE 3 TRANSPORT TICKETING MARKET: BY SYSTEM (%)
FIGURE 4 TRANSPORT TICKETING MARKET: BY APPLICATION (%)
FIGURE 5 TRANSPORT TICKETING MARKET: BY REGION (%)
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